New e-commerce payment method from MasterCard

11:56 27th May 2010

MasterCard has announced that later this year it will be introducing Open Application Programming Interfaces (Open APIs), which will create a new wave of e-commerce payment applications.

Software developers will easily be able to adapt the Open APIs to bring in new e-commerce payment methods.

Financial services giant MasterCard, which is at the centre of providing secure and smarter payment methods, hopes software developers will be given the technical expertise through the Open Apis to test applications for e-commerce websites.

"We are excited about tapping into the ingenuity of software developers around the globe to help create the next generation of game-changing payment applications," said Josh Perez, chief innovation officer at MasterCard Worldwide.

"We feel this will unleash innovation within our industry especially in the burgeoning areas of e-commerce and mobile payments."

Recently, the Royal Mail announced that it was launching a new e-commerce tool that would help North West e-commerce merchants manage their inventory, accounts and logistics.

North West e-commerce businesses that are trying to expand their company could use the new tool, called Royal Mail E-Commerce Engine to increase awareness of their presence in their market sector.

The company has developed the tool to make sure small and medium-sized enterprises are more capable of exploiting new online sales channels effectively, said Dan Hewlett, head of small business goods fulfilment at Royal Mail.

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